Stryker has reported Q2 revenues of $6.6bn, denoting a 9.4% rise year-over-year (YoY), with the company’s CEO lauding its “significant progress” in recovering since its global operations were disrupted by an cyberattack in March.
Following the results, Stryker is tweaking its 2026 outlook at the low end, with earnings now projected to land in the $14.95 to $15.10 per share range, up from $14.90 to $15.10 previously.
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Stryker’s orthopaedic segment revenues totalled almost $3bn, representing a YoY uptick of 9.2%. Meanwhile the majority of proceeds for the quarter came from the company’s medsurg and neurotechnology segment, with revenue of around $3.6bn equating to a 9.7% uplift YoY. This total, however, fell short of analysts’ expectations of $3.72bn, according to data compiled by the London Stock Exchange Group (LSEG) and seen by Reuters.
Stryker is most famous for its orthopaedic implants and robotic-arm assisted surgery systems, with its revenue split showcasing an equal dependence on both business units.
Stryker released its Q2 results after market close on 30 July. Its shares on the New York Stock Exchange (NYSE) were down by around 5.1% in premarket trading (correct as at 5:42am ET) at $330.45, versus a prior close at $348.04 – with the Q2 medsurg and neurotechnology miss a potential contributing factor. Stryker has a market cap of $133.4bn.
Commenting on the quarter, Stryker’s CEO, Kevin A Lobo, said: “We made significant progress in our recovery from the cyber incident, delivering strong growth in sales, earnings per share and operating cash flow in the second quarter.
“As we have seen in the past, the resilience of our teams when faced with challenges was once again on display. With our steady cadence of innovation and disciplined operational execution, we enter the second half of 2026 with regained momentum and remain confident in our ability to grow at the high end of medtech.”
Iran-linked cyberattack hit Stryker in March
Stryker was hit by a cyberattack in the early hours of 11 March, with the company’s headquarters in Cork, Ireland the first site affected by the incident. Once it began, the cyberattack, which defaced Stryker’s website homepage and wrought havoc to its internal infrastructure, spread to its other global sites. Iran-linked hacktivist group Handala claimed responsibility for the cyberattack in a post to chat service Telegram.
In a Form 8-K filed with the US Securities and Exchange Commission (SEC), Stryker said the incident caused, and was expected to continue to cause, “disruptions and limitations of access to certain of the company’s information systems and business applications supporting aspects of the company’s operations and corporate functions”.
In a conference call, Lobo commented: “Our recovery from the cybersecurity incident continued as we ramped overall production to meet ongoing demand and support patient care.”
